New things are normal in the world of DeFi and can come up often. The new startup blockchain called the NFTi now allows its users to borrow against their NFTs. This new age DeFi system will render banks obsolete in the near future.
The creators say that the NFTi was created so that people can mortgage their very own NFTs for other cryptocurrencies. These can also be sold for cash as and when needed. This is great news for people who wanted more flexibility out of the NFT market.
Currently, this is available for CryptoPunks or Bored apes NFTs but will be expanded for other things in the future. NFTs have become the gateway for many people who are looking to get into DeFi systems.
One can say that it is an expansion in the number of services offered by NFTs and blockchains in general. Right now is the best time for all blockchains and DeFi systems to roll out major changes.
With the public accepting them more day by day it is best that they keep the masses interested in their progress. The added functionality will not only appeal to people but also make these systems much more versatile.
Before this NFTs were more or less like art, the NFTi system helps people with NFTs lend it or use it as collateral. Such novel functionality makes NFTs a great asset to be added to your portfolio. If you have been planning to get in on the NFT trends then this is the right time to do so.